關於 cookie 的說明

本網站使用瀏覽器紀錄 (Cookies) 來提供您最好的使用體驗,我們使用的 Cookie 也包括了第三方 Cookie。相關資訊請訪問我們的隱私權與 Cookie 政策。如果您選擇繼續瀏覽或關閉這個提示,便表示您已接受我們的網站使用條款。

搜尋結果Search Result

符合「Earnings」新聞搜尋結果, 共 1871 篇 ,以下為 385 - 408 篇 訂閱此列表,掌握最新動態
The Adecco Group: Q2 2024 Results

Further market share gains and disciplined cost management; G&A savings above-target ZURICH, Aug. 6, 2024 /PRNewswire/ -- Revenues -2% yoy in challenging markets; Group relative revenue growth +375 bps and Adecco GBU +220 bps Revenues by GBU, Adecco -2% yoy, Akkodis -2% yoy, LHH -7% yoy Robust 19.4% gross margin, -70 bps yoy, reflecting current business mix; pricing firm SG&A expenses excl. one-offs improved by 50 bps yoy as a percentage of revenues, at €969 million G&A expenses -19% vs Q2 22 €162 million G&A savings run-rate delivered mid-24 vs 2022 baseline, above ~€150 million target Robust 3.1% EBITA margin excl. one-offs, stable yoy, reflecting disciplined cost management including above-target G&A savings, as well as favourable timing of FESCO JV income Operating income €113 million, stable yoy, constant currency; Net income €58 million, -2% yoy, constant currency Basic EPS €0.35, -2% yoy, constant currency; Adjusted EPS €0.64, -1% yoy, constant currency Improved cash performance reflecting good working capital management: operating cash flow +€82 million yoy to €162 million, free cash flow +€100 million yoy to €128 million, cash conversion 84% Denis Machuel, Adecco Group CEO, commented: "The Group gained a further +375 bps market share in the second quarter, on top of the +775 bps gain in the prior year period. Revenues eased on an organic basis reflecting continued market challenges, although pricing remained firm. We delivered above-target G&A cost savings, supporting a robust EBITA margin, and importantly, delivered improved cash flow through good working capital management. Adecco outperformed its peers in a tough market, while Akkodis achieved healthy growth in Consulting & Solutions. Pontoon and EZRA grew strongly in LHH, while the performance of Career Transition remained strong. Our determination is to continue outperforming the sector and to gain further market share. Our strong positioning, rigorous cost management and proven capacity to execute will enable us to benefit swiftly when labour markets improve."  Full Press Release Webcast Details | Investors & Analysts Investor Relations:+41 (0)44 878 88 88 

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 365 加入收藏 :
Yum China Reports Second Quarter Results

Record Second Quarter Revenue Led by Same-store Transaction Growth and New Unit GrowthImproved OP Margin and Achieved Record Second Quarter Operating ProfitOperating Profit Grew 4%, Core Operating Profit1 Grew 12%, Diluted EPS Grew 17%Record First Half Openings of 779 Net New Stores and Cash Returns to Shareholders of Nearly $1 Billion SHANGHAI, China, Aug. 6, 2024 /PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC and HKEX: 9987) today reported unaudited results for the second quarter ended June 30, 2024. Second Quarter Highlights Total system sales grew 4% year over year ("YoY"), excluding foreign currency translation ("F/X"), on top of last year's high base. The growth was primarily attributable to 8% of net new unit contribution.2 Total store count reached 15,423 as of June 30, 2024, including 10,931 KFC stores and 3,504 Pizza Hut stores. The Company opened 401 net new stores in the quarter. 99 net new stores, or 25%, were opened by franchisees. Total revenues increased 1% YoY to $2.68 billion, a record-high for the second quarter. Excluding F/X, total revenues would have been $85 million higher, or a 4% increase YoY. Same-store sales reached 96% of the prior year's level. Same-store transactions grew 4% YoY. Operating profit grew 4% YoY to $266 million, a record level for the second quarter. Excluding F/X, operating profit would have been $9 million higher, or a 7% increase YoY. Core operating profit1 grew 12% YoY to $275 million. OP Margin3 was 9.9%, an increase of 20 basis points YoY, supported by resilient restaurant margins and savings in G&A expenses. Restaurant margin was 15.5%. Excluding $12 million in items affecting comparability, restaurant margin was approximately the same as the second quarter last year. Improvement in operational efficiencies supported margin stability. Diluted EPS increased 17% YoY to $0.55, a record level for the second quarter, or up 19% YoY excluding F/X. Delivery sales grew 11% YoY, maintaining the double-digit growth Yum China has carried over the past decade. Delivery contributed approximately 38% of KFC and Pizza Hut's Company sales. Digital sales4 reached $2.2 billion, with digital ordering accounting for approximately 90% of total Company sales. Total membership of KFC and Pizza Hut exceeded 495 million. Member sales accounted for over 65% of KFC and Pizza Hut's system sales in aggregate. Yum China returned $249 million to shareholders in the second quarter through share repurchases and cash dividends. Year to date, the Company has returned nearly $1 billion to shareholders, exceeding its full-year 2023 returns. Joey Wat, CEO of Yum China, commented, "We achieved our most profitable second quarter since the spin-off, with core operating profit growing by 12% despite challenging industry dynamics. Our sharp focus on value-for-money and innovative new products worked well, driving robust same-store transaction growth. We took proactive actions to improve operational efficiency, stabilizing restaurant margin and expanding OP margin year over year." Wat added, "By reducing the complexity of menus and operations, and harnessing the power of automation and AI, we improved operational efficiency. These measures gave us the flexibility to invest in menu innovation and compete on value. KFC has successfully gained market share on delivery platforms by expanding its price range and lowering delivery fees. Pizza Hut attracted value-conscious customers with its entry-price pizzas and solo diners with its Pizza Dough Burger. Our business model breakthroughs enabled us to broaden our addressable market and capture more customer occasions. Our side-by-side KCOFFEE cafe and Pizza Hut WOW store model delivered incremental sales and showed great future potential. Our new stores maintained good returns, with a consistent payback period of 2 years for KFC and an improved level of 2 to 3 years for Pizza Hut. With our industry-leading capabilities and scale, we are turning challenges to our competitive advantage. We believe that we are well positioned to capture the long-term growth opportunities in China and, ultimately, create enduring value for our shareholders."  [1] Core operating profit is defined as operating profit adjusted for special items, further excluding items affecting comparability and the impact of F/X. The Company uses coreoperating profit for the purposes of evaluating the performance of its core operations. Please refer to "Reconciliation of Reported GAAP Results to Non-GAAP Measures" included inthe accompanying tables of this release for further details. [2] Net new unit contribution refers to sales contribution from net new stores. [3] OP margin refers to operating profit as a percentage of total revenues. [4] Digital sales refer to sales at Company-owned stores where orderings were placed digitally. Key Financial Results Second Quarter Year to Date Ended 6/30 %/ppts Change %/ppts Change 2024 2023 Reported Ex F/X 2024 2023 Reported Ex F/X System Sales Growth (5) (%) 4 32 NM NM 5 24 NM NM Same-Store Sales Growth (5) (%) (4) 15 NM NM (3) 11 NM NM Operating Profit ($mn) 266 257 +4 +7 640 673 (5) — Adjusted Operating Profit (6) ($mn) 266 259 +3 +6 640 678 (6) (1) Core Operating Profit (6) (7) ($mn) 275 247 NM +12 671 639 NM +5 OP Margin (%) 9.9 9.7 +0.2 +0.2 11.4 12.1 (0.7) (0.7) Core OP Margin (6) (8) (%) 10.0 9.3 NM +0.7 11.4 11.5 NM (0.1) Net Income ($mn) 212 197 +8 +11 499 486 +3 +7 Adjusted Net Income (6) ($mn) 212 199 +7 +10 499 491 +2 +6 Diluted Earnings   Per Common Share ($) 0.55 0.47 +17 +19 1.26 1.15 +10 +14 Adjusted Diluted Earnings   Per Common Share (6) ($) 0.55 0.47 +17 +19 1.26 1.16 +9 +13 [5] System sales and same-store sales percentages exclude the impact of F/X. Effective January 1, 2018, temporary store closures are normalized in the same-store salescalculation by excluding the period during which stores are temporarily closed. [6] See "Reconciliation of Reported GAAP Results to Non-GAAP Measures" included in the accompanying tables of this release for further details. [7] Current period amounts are derived by translating results at average exchange rates of the prior year period. [8] Core OP margin refers to core operating profit as a percentage of total revenues excluding F/X. Note:  All comparisons are versus the same period a year ago. Percentages may not recompute due to rounding. NM refers to not meaningful.   KFC Second Quarter Year to Date Ended 6/30 %/ppts Change %/ppts Change 2024 2023 Reported Ex F/X 2024 2023 Reported Ex F/X Restaurants 10,931 9,562 +14 NM 10,931 9,562 +14 NM System Sales Growth (%) 5 32 NM NM 6 24 NM NM Same-Store Sales Growth (%) (3) 15 NM NM (3) 11 NM NM Total Revenues ($mn) 2,014 1,984 +2 +5 4,244 4,182 +2 +6 Operating Profit ($mn) 264 273 (3) — 636 693 (8) (4) Core Operating Profit ($mn) 273 263 NM +4 665 659 NM +1 Restaurant Margin (%) 16.2 17.3 (1.1) (1.1) 17.8 19.9 (2.1) (2.1) System sales for KFC grew 5% YoY for the quarter, on top of high base last year, primarily driven by net new unit contribution of 8%. KFC opened 328 net new stores during the quarter. 74 net new stores, or 23%, were opened by franchisees. Total store count reached 10,931 as of June 30, 2024. Operating profit was $264 million. Core operating profit was $273 million for the quarter, up 4% YoY. Restaurant margin was 16.2% for the quarter. Excluding items affecting comparability, restaurant margin decreased by 60 basis points against a strong comparison in the second quarter of 2023, primarily due to increased value-for-money offerings to drive traffic and wage inflation, partially offset by favorable commodity prices and improved operational efficiency. Delivery sales grew 12% YoY, contributing approximately 38% of KFC's Company sales for the quarter. Off-premises dining accounted for approximately 67% of KFC's Company sales. Pizza Hut Second Quarter Year to Date Ended 6/30 %/ppts Change %/ppts Change 2024 2023 Reported Ex F/X 2024 2023 Reported Ex F/X Restaurants 3,504 3,072 +14 NM 3,504 3,072 +14 NM System Sales Growth (%) 1 30 NM NM 3 23 NM NM Same-Store Sales Growth (%) (8) 13 NM NM (7) 10 NM NM Total Revenues ($mn) 540 554 (2) +1 1,135 1,151 (1) +3 Operating Profit ($mn) 40 35 +13 +18 87 90 (4) +1 Core Operating Profit ($mn) 41 34 NM +23 91 86 NM +8 Restaurant Margin (%) 13.2 12.4 +0.8 +0.8 12.8 13.3 (0.5) (0.5) System sales for Pizza Hut grew 1% YoY for the quarter, on top of high base last year, primarily driven by net new unit contribution of 8%. Pizza Hut opened 79 net new stores during the quarter. Total store count reached 3,504 as of June 30, 2024. Operating profit grew 13% YoY to $40 million, a record level for the second quarter. Core operating profit was $41 million, up 23% YoY. Restaurant margin was 13.2% for the quarter. Excluding items affecting comparability, restaurant margin was up 110 basis points YoY. Higher operational efficiency offset the impact of increased value-for-money offerings and wage inflation, resulting in an increased margin. Delivery sales grew 6%, contributing approximately 38% of Pizza Hut's Company sales for the quarter. Off-premises dining accounted for approximately 48% of Pizza Hut's Company sales. Returns to Shareholders Yum China repurchased 5.1 million shares of common stock for $187 million in the quarter. As of June 30, 2024, $666 million remained available for future share repurchases under the current authorization program. Yum China's board of directors declared a cash dividend of $0.16 per share on Yum China's common stock, payable on September 17, 2024 to shareholders of record as of the close of business on August 27, 2024. In the first half of 2024, the Company returned a record $994 million to shareholders, including buying back 21.7 million shares of common stock, which is equivalent to over 5% of its outstanding shares as of December 31, 2023. Outlook The Company's targets for the 2024 fiscal year remain unchanged from the prior period's disclosures. Open approximately 1,500 to 1,700 net new stores. Make capital expenditures in the range of approximately $700 million to $850 million. Return a Company record-setting $1.5 billion to shareholders through quarterly cash dividends and share repurchases. Note on Non-GAAP Measures Reported GAAP results include items that are excluded from non-GAAP measures. See "Reconciliation of Reported GAAP Results to Non-GAAP Measures" and "Segment Results" within this release for non-GAAP reconciliation details. Conference Call Yum China's management will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on Monday, August 5, 2024 (8:00 a.m. Beijing/Hong Kong Time on Tuesday, August 6, 2024). A live webcast of the call may be accessed at https://edge.media-server.com/mmc/p/qibtjiz2. To join by phone, please register in advance of the conference through the link provided below. Upon registering, you will be provided with participant dial-in numbers, a passcode and a unique access PIN. Pre-registration link:            https://s1.c-conf.com/diamondpass/10039799-9htky1.html  A replay of the conference call will be available one hour after the call ends until Tuesday, August 13, 2024 and may be accessed by phone at the following numbers: U.S.: 1 855 883 1031 Mainland China: 400 1209 216 Hong Kong: 800 930 639 U.K.: 0800 031 4295 Replay PIN: 10039799 Additionally, this earnings release, the accompanying slides, as well as the live and archived webcast of this conference call will be available at Yum China's Investor Relations website at http://ir.yumchina.com.  For important news and information regarding Yum China, including our filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange, visit Yum China's Investor Relations website at http://ir.yumchina.com. Yum China uses this website as a primary channel for disclosing key information to its investors, some of which may contain material and previously non-public information. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including under "2024 Outlook." We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook," "commit" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding the future strategies, growth, business plans, investments, store openings, capital expenditures, dividend and share repurchase plans, CAGR for system sales, operating profit and EPS, earnings, performance and returns of Yum China, anticipated effects of population and macroeconomic trends, pace of recovery of Yum China's business, the anticipated effects of our innovation, digital and delivery capabilities and investments on growth and beliefs regarding the long-term drivers of Yum China's business. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: whether we are able to achieve development goals at the times and in the amounts currently anticipated, if at all, the success of our marketing campaigns and product innovation, our ability to maintain food safety and quality control systems, changes in public health conditions, our ability to control costs and expenses, including tax costs, as well as changes in political, economic and regulatory conditions in China, and those set forth under the caption "Risk Factors" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q). In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results. About Yum China Holdings, Inc. Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has approximately 400,000 employees and operates over 15,000 restaurants under six brands across more than 2,100 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain, which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com. Contacts Investor Relations Contact: Tel: +86 21 2407 7556 IR@YumChina.com     Media Contact: Tel: +86 21 2407 8288 / +852 2267 5807 Media@YumChina.com        Yum China Holdings, Inc. Condensed Consolidated Statements of Income (in US$ million, except per share data) (unaudited) Quarter Ended % Change Year to Date Ended % Change 6/30/2024 6/30/2023 B/(W) 6/30/2024 6/30/2023 B/(W) Revenues Company sales $         2,528 $         2,517 — $         5,322 $         5,289 1 Franchise fees and income 22 21 — 47 46 1 Revenues from transactions with franchisees 96 89 8 203 182 11 Other revenues 33 27 20 65 54 19 Total revenues 2,679 2,654 1 5,637 5,571 1 Costs and Expenses, Net Company restaurants      Food and paper 797 773 (3) 1,693 1,608 (5)      Payroll and employee benefits 666 665 — 1,374 1,348 (2)      Occupancy and other operating expenses 674 675 — 1,371 1,366 — Company restaurant expenses 2,137 2,113 (1) 4,438 4,322 (3) General and administrative expenses 133 153 13 273 316 14 Franchise expenses 9 9 (6) 19 19 (3) Expenses for transactions with franchisees 92 84 (8) 196 175 (11) Other operating costs and expenses 29 24 (22) 58 48 (21) Closures and impairment expenses, net 13 14 13 14 17 18 Other (income) expenses, net — —  NM  (1) 1  NM  Total costs and expenses, net 2,413 2,397 (1) 4,997 4,898 (2) Operating Profit 266 257 4 640 673 (5) Interest income, net 31 40 (21) 69 78 (11) Investment gain (loss) 8 (11)  NM  16 (28)  NM  Income Before Income Taxes and   Equity in Net Earnings (Losses) from   Equity Method Investments 305 286 7 725 723 — Income tax provision (77) (71) (9) (190) (196) 3 Equity in net earnings (losses) from    equity method investments — (1) 47 — — 8 Net income – including noncontrolling interests 228 214 7 535 527 2 Net income – noncontrolling interests 16 17 5 36 41 12 Net Income – Yum China Holdings, Inc. $            212 $            197 8 $            499 $            486 3 Effective tax rate 25.2 % 24.7 % (0.5)  ppts.  26.2 % 27.0 % 0.8  ppts.  Basic Earnings Per Common Share $           0.55 $           0.47 $           1.27 $           1.16 Weighted-average shares outstanding     (in millions) 389 418 395 418 Diluted Earnings Per Common Share $           0.55 $           0.47 $           1.26 $           1.15 Weighted-average shares outstanding     (in millions) 391 422 397 423 Company sales 100.0 % 100.0 % 100.0 % 100.0 % Food and paper 31.5 30.7 (0.8)  ppts.  31.8 30.4 (1.4) ppts. Payroll and employee benefits 26.3 26.4 0.1  ppts.  25.8 25.5 (0.3) ppts. Occupancy and other operating expenses 26.7 26.8 0.1  ppts.  25.8 25.8 — ppts. Restaurant margin 15.5 % 16.1 % (0.6)  ppts.  16.6 % 18.3 % (1.7) ppts. Percentages may not recompute due to rounding. NM refers to not meaningful.       Yum China Holdings, Inc. KFC Operating Results (in US$ million) (unaudited) Quarter Ended % Change Year to Date Ended % Change 6/30/2024 6/30/2023 B/(W) 6/30/2024 6/30/2023 B/(W) Revenues Company sales $         1,983 $         1,954 1 $         4,176 $         4,120 1 Franchise fees and income 16 15 7 34 32 7 Revenues from transactions with franchisees 12 11 22 26 21 26 Other revenues 3 4 (21) 8 9 (14) Total revenues 2,014 1,984 2 4,244 4,182 2 Costs and Expenses, Net Company restaurants      Food and paper 626 602 (4) 1,320 1,248 (6)      Payroll and employee benefits 513 498 (3) 1,055 1,010 (4)      Occupancy and other operating expenses 524 516 (1) 1,059 1,043 (2) Company restaurant expenses 1,663 1,616 (3) 3,434 3,301 (4) General and administrative expenses 60 67 10 121 135 10 Franchise expenses 8 7 (5) 17 16 (3) Expenses for transactions with franchisees 11 9 (18) 23 18 (22) Other operating costs and expenses 2 4 32 6 8 18 Closures and impairment expenses, net 6 8 14 7 9 14 Other expenses, net — — 5 — 2 89 Total costs and expenses, net 1,750 1,711 (2) 3,608 3,489 (3) Operating Profit $            264 $            273 (3) $            636 $            693 (8) Company sales 100.0 % 100.0 % 100.0 % 100.0 % Food and paper 31.6 30.8 (0.8) ppts. 31.6 30.3 (1.3) ppts. Payroll and employee benefits 25.9 25.5 (0.4) ppts. 25.3 24.5 (0.8) ppts. Occupancy and other operating expenses 26.3 26.4 0.1 ppts. 25.3 25.3 — ppts. Restaurant margin 16.2 % 17.3 % (1.1) ppts. 17.8 % 19.9 % (2.1) ppts. Percentages may not recompute due to rounding.        Yum China Holdings, Inc. Pizza Hut Operating Results (in US$ million) (unaudited) Quarter Ended % Change Year to Date Ended % Change 6/30/2024 6/30/2023 B/(W) 6/30/2024 6/30/2023 B/(W) Revenues Company sales $            530 $            546 (3) $         1,117 $         1,137 (2) Franchise fees and income 2 2 4 4 4 2 Revenues from transactions with franchisees 1 1 6 2 2 (1) Other revenues 7 5 36 12 8 55 Total revenues 540 554 (2) 1,135 1,151 (1) Costs and Expenses, Net Company restaurants      Food and paper 167 166 (1) 365 350 (4)      Payroll and employee benefits 150 162 8 312 329 5      Occupancy and other operating expenses 143 151 5 297 307 3 Company restaurant expenses 460 479 4 974 986 1 General and administrative expenses 27 30 9 54 59 8 Franchise expenses 1 1 (5) 2 2 (1) Expenses for transactions with franchisees 1 1 4 2 2 7 Other operating costs and expenses 6 4 (46) 11 7 (68) Closures and impairment expenses, net 5 4 (6) 5 5 1 Total costs and expenses, net 500 519 4 1,048 1,061 1 Operating Profit $              40 $              35 13 $              87 $              90 (4) Company sales 100.0 % 100.0 % 100.0 % 100.0 % Food and paper 31.6 30.3 (1.3) ppts. 32.7 30.8 (1.9) ppts. Payroll and employee benefits 28.3 29.7 1.4 ppts. 27.9 28.9 1.0 ppts. Occupancy and other operating expenses 26.9 27.6 0.7 ppts. 26.6 27.0 0.4 ppts. Restaurant margin 13.2 % 12.4 % 0.8 ppts. 12.8 % 13.3 % (0.5) ppts. Percentages may not recompute due to rounding.        Yum China Holdings, Inc. Condensed Consolidated Balance Sheets (in US$ million) 6/30/2024 12/31/2023 (Unaudited) ASSETS Current Assets Cash and cash equivalents $    1,043 $    1,128 Short-term investments 1,434 1,472 Accounts receivable, net 74 68 Inventories, net 362 424 Prepaid expenses and other current assets 368 339      Total Current Assets 3,281 3,431 Property, plant and equipment, net 2,314 2,310 Operating lease right-of-use assets 2,151 2,217 Goodwill 1,888 1,932 Intangible assets, net 146 150 Long-term bank deposits and notes 1,051 1,265 Equity investments 343 332 Deferred income tax assets 132 129 Other assets 262 265    Total Assets 11,568 12,031 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND EQUITY Current Liabilities Accounts payable and other current liabilities 2,149 2,164 Short-term borrowings 416 168 Income taxes payable 113 90    Total Current Liabilities 2,678 2,422 Non-current operating lease liabilities 1,827 1,899 Non-current finance lease liabilities 46 44 Deferred income tax liabilities 386 390 Other liabilities 149 157    Total Liabilities 5,086 4,912 Redeemable Noncontrolling Interest 13 13 Equity Common stock, $0.01 par value; 1,000 million shares authorized; 387 million shares    and 407 million shares issued at June 30, 2024 and December 31, 2023, respectively;    386 million shares and 407 million shares outstanding at June 30 2024 and    December 31, 2023, respectively. 4 4 Treasury stock (17) — Additional paid-in capital 4,103 4,320 Retained earnings 2,048 2,310 Accumulated other comprehensive loss (326) (229)     Total Yum China Holdings, Inc. Stockholders' Equity 5,812 6,405 Noncontrolling interests 657 701     Total Equity 6,469 7,106     Total Liabilities, Redeemable Noncontrolling Interest and Equity $        11,568 $          12,031       Yum China Holdings, Inc. Condensed Consolidated Statements of Cash Flows (in US$ million) (unaudited) Year to Date Ended 6/30/2024 6/30/2023 Cash Flows – Operating Activities Net income – including noncontrolling interests $                        535 $                        527 Depreciation and amortization 235 228 Non-cash operating lease cost 203 202 Closures and impairment expenses 14 17 Investment (gain) loss (16) 28 Equity in net (earnings) losses from equity method investments — — Distributions of income received from equity method investments 7 8 Deferred income taxes (2) 13 Share-based compensation expense 23 29 Changes in accounts receivable (5) 2 Changes in inventories 52 1 Changes in prepaid expenses, other current assets and value-added tax assets (28) 19 Changes in accounts payable and other current liabilities 27 54 Changes in income taxes payable 25 25 Changes in non-current operating lease liabilities (206) (193) Other, net (21) (36) Net Cash Provided by Operating Activities 843 924 Cash Flows – Investing Activities Capital spending (358) (332) Purchases of short-term investments, long-term bank deposits and notes (1,479) (2,172) Maturities of short-term investments, long-term bank deposits and notes 1,702 1,904 Other, net 3 2 Net Cash Used in Investing Activities (132) (598) Cash Flows – Financing Activities Proceeds from short-term borrowings 307 — Repayment of short-term borrowings (52) — Repurchase of shares of common stock (869) (122) Cash dividends paid on common stock (126) (108) Dividends paid to noncontrolling interests (28) (28) Contributions from noncontrolling interests — 35 Payment of acquisition related holdback  — (3) Other, net (17) (4) Net Cash Used in Financing Activities (785) (230) Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash (11) (37) Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (85) 59 Cash, Cash Equivalents, and Restricted Cash - Beginning of Period 1,128 1,130 Cash, Cash Equivalents, and Restricted Cash - End of Period $                     1,043 $                     1,189 In this press release: Certain performance metrics and non-GAAP measures are presented excluding the impact of foreign currency translation ("F/X"). These amounts are derived by translating current year results at prior year average exchange rates. We believe the elimination of the F/X impact provides better year-to-year comparability without the distortion of foreign currency fluctuations. System sales growth reflects the results of all restaurants regardless of ownership, including Company-owned and franchise restaurants that operate our restaurant concepts, except for non-Company-owned restaurants for which we do not receive a sales-based royalty. Sales of franchise restaurants typically generate ongoing franchise fees for the Company at an average rate of approximately 6% of system sales. Franchise restaurant sales are not included in Company sales in the Condensed Consolidated Statements of Income; however, the franchise fees are included in the Company's revenues. We believe system sales growth is useful to investors as a significant indicator of the overall strength of our business as it incorporates all of our revenue drivers, Company and franchise same-store sales as well as net unit growth. Effective January 1, 2018, the Company revised its definition of same-store sales growth to represent the estimated percentage change in sales of food of all restaurants in the Company system that have been open prior to the first day of our prior fiscal year, excluding the period during which stores are temporarily closed. We refer to these as our "base" stores. Previously, same-store sales growth represented the estimated percentage change in sales of all restaurants in the Company system that have been open for one year or more, including stores temporarily closed, and the base stores changed on a rolling basis from month to month. This revision was made to align with how management measures performance internally and focuses on trends of a more stable base of stores. Unit Count by Brand KFC 12/31/2023 New Builds Closures Acquired 6/30/2024 Company-owned 9,237 614 (112) 1 9,740 Franchisees 1,059 144 (11) (1) 1,191 Total 10,296 758 (123) — 10,931 Pizza Hut 12/31/2023 New Builds Closures 6/30/2024 Company-owned 3,155 246 (60) 3,341 Franchisees 157 10 (4) 163 Total 3,312 256 (64) 3,504 Others 12/31/2023 New Builds Closures 6/30/2024 Company-owned 256 10 (69) 197 Franchisees 780 51 (40) 791 Total 1,036 61 (109) 988   Reconciliation of Reported GAAP Results to Non-GAAP Measures(in millions, except per share data)(unaudited) In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") in this press release, the Company provides the following non-GAAP measures: Measures adjusted for Special Items, which include Adjusted Operating Profit, Adjusted Net Income, Adjusted Earnings Per Common Share ("EPS"), Adjusted Effective Tax Rate and Adjusted EBITDA; Company Restaurant Profit ("Restaurant profit") and Restaurant margin; Core Operating Profit and Core OP margin, which exclude Special Items, and further adjusted for Items Affecting Comparability and the impact of F/X; These non-GAAP measures are not intended to replace the presentation of our financial results in accordance with GAAP.  Rather, the Company believes that the presentation of these non-GAAP measures provides additional information to investors to facilitate the comparison of past and present results, excluding those items that the Company does not believe are indicative of our core operations. With respect to non-GAAP measures adjusted for Special Items, the Company excludes impact from Special Items for the purpose of evaluating performance internally and uses them as factors in determining compensation for certain employees. Special Items are not included in any of our segment results. Adjusted EBITDA is defined as net income including noncontrolling interests adjusted for equity in net earnings (losses) from equity method investments, income tax, interest income, net, investment gain or loss, depreciation and amortization, store impairment charges, and Special Items. Store impairment charges included as an adjustment item in Adjusted EBITDA primarily resulted from our semi-annual impairment evaluation of long-lived assets of individual restaurants, and additional impairment evaluation whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. If these restaurant-level assets were not impaired, depreciation of the assets would have been recorded and included in EBITDA. Therefore, store impairment charges were a non-cash item similar to depreciation and amortization of our long-lived assets of restaurants. The Company believes that investors and analysts may find it useful in measuring operating performance without regard to such non-cash items. Restaurant Profit is defined as Company sales less expenses incurred directly by our Company-owned restaurants in generating Company sales, including cost of food and paper, restaurant-level payroll and employee benefits, rent, depreciation and amortization of restaurant-level assets, advertising expenses, and other operating expenses. Company restaurant margin percentage is defined as Restaurant profit divided by Company sales. We also use Restaurant profit and Restaurant margin for the purposes of internally evaluating the performance of our Company-owned restaurants and we believe they provide useful information to investors as to the profitability of our Company-owned restaurants. Core Operating Profit is defined as Operating Profit adjusted for Special Items, and further excluding Items Affecting Comparability and the impact of F/X. We consider quantitative and qualitative factors in assessing whether to adjust for the impact of items that may be significant or that could affect an understanding of our ongoing financial and business performance or trends. Items such as charges, gains and accounting changes which are viewed by management as significantly impacting the current period or the comparable period, due to changes in policy or other external factors, or non-cash items pertaining to underlying activities that are different from or unrelated to our core operations, are generally considered "Items Affecting Comparability." Examples of Items Affecting Comparability include, but are not limited to: temporary relief from landlords and government agencies; VAT deductions due to tax policy changes; and amortization of reacquired franchise rights recognized upon acquisitions. We believe presenting Core Operating Profit provides additional information to further enhance comparability of our operating results and we use this measure for purposes of evaluating the performance of our core operations. Core OP margin is defined as Core Operating Profit divided by Total revenues, excluding the impact of F/X. The following tables set forth the reconciliation of the most directly comparable GAAP financial measures to the non-GAAP financial measures. The reconciliation of GAAP Operating Profit to Restaurant Profit and Core Operating Profit by segment is presented in Segment Results within this release.   Quarter Ended Year to Date Ended 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Non-GAAP Reconciliations Reconciliation of Operating Profit to Adjusted Operating Profit Operating Profit $                 266 $                257 $            640 $            673 Special Items, Operating Profit  — (2) — (5) Adjusted Operating Profit $                 266 $                259 $            640 $            678 Reconciliation of Net Income to Adjusted Net Income Net Income – Yum China Holdings, Inc. $                 212 $                197 $            499 $            486 Special Items, Net Income –Yum China Holdings, Inc. — (2) — (5) Adjusted Net Income – Yum China Holdings, Inc. $                 212 $                199 $            499 $            491 Reconciliation of EPS to Adjusted EPS Basic Earnings Per Common Share $                0.55 $               0.47 $           1.27 $           1.16 Special Items, Basic Earnings Per Common Share — — — (0.01) Adjusted Basic Earnings Per Common Share $                0.55 $               0.47 $           1.27 $           1.17 Diluted Earnings Per Common Share $                0.55 $               0.47 $           1.26 $           1.15 Special Items, Diluted Earnings Per Common Share — — — (0.01) Adjusted Diluted Earnings Per Common Share $                0.55 $               0.47 $           1.26 $           1.16 Reconciliation of Effective Tax Rate to Adjusted Effective Tax Rate Effective tax rate 25.2 % 24.7 % 26.2 % 27.0 % Impact on effective tax rate as a result of Special Items — % 0.1 % — % 0.1 % Adjusted effective tax rate 25.2 % 24.6 % 26.2 % 26.9 % Net income, along with the reconciliation to Adjusted EBITDA, is presented below. Quarter Ended Year to Date Ended 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Reconciliation of Net Income to Adjusted EBITDA Net Income – Yum China Holdings, Inc. $            212 $            197 $            499 $            486 Net income – noncontrolling interests 16 17 36 41 Equity in net (earnings) losses from equity method investments — 1 — — Income tax provision 77 71 190 196 Interest income, net (31) (40) (69) (78) Investment (gain) loss (8) 11 (16) 28 Operating Profit 266 257 640 673 Special Items, Operating Profit — 2 — 5 Adjusted Operating Profit 266 259 640 678 Depreciation and amortization 118 112 235 228 Store impairment charges 15 17 19 21 Adjusted EBITDA $            399 $            388 $            894 $            927 Details of Special Items are presented below: Quarter Ended Year to Date Ended 6/30/2024 6/30/2023 6/30/2024 6/30/2023 Share-based compensation expense for Partner PSU Awards(1) $              — $              (2) $              — $              (5) Special Items, Operating Profit — (2) — (5) Tax effect on Special Items(2) — — — — Special Items, net income – including noncontrolling interests — (2) — (5) Special Items, net income – noncontrolling interests — — — — Special Items, Net Income –Yum China Holdings, Inc. $              — $              (2) $              — $              (5) Weighted-average Diluted Shares Outstanding (in millions) 391 422 397 423 Special Items, Diluted Earnings Per Common Share $              — $              — $              — $         (0.01) (1)  In February 2020, the Company granted Partner PSU Awards to select employees who were deemed critical to the Company's executionof its strategic operating plan. These PSU awards will only vest if threshold performance goals are achieved over a four-yearperformance period, with the payout ranging from 0% to 200% of the target number of shares subject to the PSU awards. These awardsvested as of December 31, 2023 with a payout in the first quarter of 2024. Partner PSU Awards were granted to address increasedcompetition for executive talent, motivate transformational performance and encourage management retention. Given the unique natureof these grants, the Compensation Committee does not intend to grant similar, special grants to the same employees during theperformance period. The impact from these special awards is excluded from metrics that management uses to assess the Company'sperformance. (2)  The tax expense was determined based upon the nature, as well as the jurisdiction, of each Special Item at the applicable tax rate. Operating Profit, along with the reconciliation to Core Operating Profit, is presented below: Quarter ended % Change Year to Date Ended % Change 6/30/2024 6/30/2023 B/(W) 6/30/2024 6/30/2023 B/(W) Reconciliation of Operating Profit to Core Operating Profit Operating profit $            266 $            257 4 $              640 $            673 (5) Special Items, Operating Profit — 2 — 5 Adjusted Operating Profit $            266 $            259 3 $              640 $            678 (6) Items Affecting Comparability    Temporary relief from landlords(1) — (2) — (10)    Temporary relief from government agencies(2) — (1) — (3)    VAT deductions(3) — (9) — (28)    Amortization of reacquired franchise rights(4) — — — 2 F/X impact 9 — 31 — Core Operating Profit $            275 $            247 12 $              671 $            639 5 Total revenues 2,679 2,654 1 5,637 5,571 1 F/X impact 85 — 239 — Total revenues, excluding the impact of F/X $         2,764 $         2,654 4 $           5,876 $         5,571 5 Core OP margin 10.0 % 9.3 % 0.7 ppts 11.4 % 11.5 % (0.1) ppts (1) In relation to the effects of the COVID-19 pandemic, the Company was granted lease concessions from landlords. The lease concessionswere primarily in the form of rent reduction over the period of time when the Company's restaurant business was adversely impacted.Such concessions were primarily recognized as a reduction of Occupancy and other operating expenses within Company restaurantexpenses included in the Condensed Consolidated Statement of Income in the period the concession was granted. (2) In relation to the effects of the COVID-19 pandemic, the Company received government subsidies for employee benefits and providingtraining to employees. The temporary relief was primarily recognized as a reduction to Payroll and employee benefits within Companyrestaurant expenses included in the Condensed Consolidated Statement of Income. (3) Pursuant to the tax policy issued by relevant government authorities, general VAT taxpayers in certain industries that meet certaincriteria are allowed to claim an additional 10% or 15% input VAT, which will be used to offset their VAT payables. This VAT policywas further extended to December 31, 2023 but the additional deduction was reduced to 5% or 10% respectively. VAT deductions wereprimarily recorded as a reduction to Food and paper and Occupancy and other operating expenses within Company restaurant expensesincluded in the Condensed Consolidated Statements of Income. Such preferential policy was not extended in 2024. (4) As a result of the acquisition of our previously unconsolidated joint ventures of Hangzhou KFC, Suzhou KFC and Wuxi KFC, $66million, $61 million and $61 million of the purchase price were allocated to intangible assets related to reacquired franchise rights,respectively, which were amortized over the remaining franchise contract period of 1 year, 2.4 years and 5 years, respectively. Thereacquired franchise rights were fully amortized as of March 31, 2023. The amortization was recorded in Other (Income) Expenses, netincluded in the Condensed Consolidated Statements of Income.       Yum China Holdings, Inc. Segment Results (in US$ million) (unaudited) Quarter Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total Company sales $         1,983 $            530 $                     15 $                     — $                  — $         2,528 Franchise fees and income 16 2 4 — — 22 Revenues from transactions with franchisees(2) 12 1 16 67 — 96 Other revenues 3 7 144 16 (137) 33 Total revenues $         2,014 $            540 $                   179 $                     83 $              (137) $         2,679 Company restaurant expenses 1,663 460 14 — — 2,137 General and administrative expenses 60 27 10 36 — 133 Franchise expenses 8 1 — — — 9 Expenses for transactions with franchisees(2) 11 1 14 66 — 92 Other operating costs and expenses 2 6 142 16 (137) 29 Closures and impairment expenses, net 6 5 2 — — 13 Total costs and expenses, net 1,750 500 182 118 (137) 2,413 Operating Profit (Loss) $            264 $              40 $                     (3) $                   (35) $                  — $            266 Reconciliation of GAAP Operating Profit to Restaurant Profit Quarter Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            264 $              40 $                     (3) $                   (35) $                  — $            266 Less:    Franchise fees and income 16 2 4 — — 22    Revenues from transactions with franchisees(2) 12 1 16 67 — 96    Other revenues 3 7 144 16 (137) 33 Add:    General and administrative expenses 60 27 10 36 — 133    Franchise expenses 8 1 — — — 9    Expenses for transactions with franchisees(2) 11 1 14 66 — 92    Other operating costs and expenses 2 6 142 16 (137) 29    Closures and impairment expenses, net 6 5 2 — — 13 Restaurant profit $            320 $              70 $                       1 $                     — $                  — $            391 Company sales 1,983 530 15 — — 2,528 Restaurant margin % 16.2 % 13.2 % 5.9 % N/A N/A 15.5 % Reconciliation of GAAP Operating Profit to Core Operating Profit Quarter Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            264 $              40 $                     (3) $                   (35) $                  — $            266 Special Items, Operating Profit  — — — — — — Adjusted Operating Profit (Loss) $            264 $              40 $                     (3) $                   (35) $                  — $            266 F/X impact 9 1 — (1) — 9 Core Operating Profit (Loss) $            273 $              41 $                     (3) $                   (36) $                  — $            275 Quarter Ended 6/30/2023 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total Company sales $         1,954 $            546 $                     17 $                     — $                  — $         2,517 Franchise fees and income 15 2 4 — — 21 Revenues from transactions with franchisees(2) 11 1 17 60 — 89 Other revenues 4 5 144 10 (136) 27 Total revenues $         1,984 $            554 $                   182 $                     70 $              (136) $         2,654 Company restaurant expenses 1,616 479 18 — — 2,113 General and administrative expenses 67 30 10 46 — 153 Franchise expenses 7 1 1 — — 9 Expenses for transactions with franchisees(2) 9 1 15 59 — 84 Other operating costs and expenses 4 4 142 10 (136) 24 Closures and impairment expenses, net 8 4 2 — — 14 Total costs and expenses, net 1,711 519 188 115 (136) 2,397 Operating Profit (Loss) $            273 $              35 $                     (6) $                   (45) $                  — $            257 Reconciliation of GAAP Operating Profit to Restaurant Profit Quarter Ended 6/30/2023 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            273 $              35 $                     (6) $                   (45) $                  — $            257 Less:    Franchise fees and income 15 2 4 — — 21    Revenues from transactions with franchisees(2) 11 1 17 60 — 89    Other revenues 4 5 144 10 (136) 27 Add:    General and administrative expenses 67 30 10 46 — 153     Franchise expenses 7 1 1 — — 9     Expenses for transactions with franchisees(2) 9 1 15 59 — 84     Other operating costs and expenses 4 4 142 10 (136) 24     Closures and impairment expenses, net 8 4 2 — — 14 Restaurant profit (loss) $            338 $              67 $                     (1) $                     — $                  — $            404 Company sales 1,954 546 17 — — 2,517 Restaurant margin % 17.3 % 12.4 % (9.6) % N/A N/A 16.1 % Reconciliation of GAAP Operating Profit to Core Operating Profit Quarter Ended 6/30/2023 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            273 $              35 $                     (6) $                   (45) $                  — $            257 Special Items, Operating Profit  — — — 2 — 2 Adjusted Operating Profit (Loss) $            273 $              35 $                     (6) $                   (43) $                  — $            259 Items Affecting Comparability    Temporary relief from landlords (2) — — — — (2)    Temporary relief from government agencies (1) — — — — (1)    VAT deductions (7) (1) (1) — — (9) F/X impact — — — — — — Core Operating Profit (Loss) $            263 $              34 $                     (7) $                   (43) $                  — $            247 Year to Date Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total Company sales $         4,176 $         1,117 $                     29 $                     — $                  — $         5,322 Franchise fees and income 34 4 9 — — 47 Revenues from transactions with franchisees(2) 26 2 36 139 — 203 Other revenues 8 12 308 31 (294) 65 Total revenues $         4,244 $         1,135 $                   382 $                   170 $              (294) $         5,637 Company restaurant expenses 3,434 974 31 — (1) 4,438 General and administrative expenses 121 54 20 78 — 273 Franchise expenses 17 2 — — — 19 Expenses for transactions with franchisees(2) 23 2 33 138 — 196 Other operating costs and expenses 6 11 304 30 (293) 58 Closures and impairment expenses, net 7 5 2 — — 14 Other expenses (income), net — — — (1) — (1) Total costs and expenses, net 3,608 1,048 390 245 (294) 4,997 Operating Profit (Loss) $            636 $              87 $                     (8) $                   (75) $                  — $            640 Reconciliation of GAAP Operating Profit to Restaurant Profit Year to Date Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            636 $              87 $                     (8) $                   (75) $                  — $            640 Less:    Franchise fees and income 34 4 9 — — 47    Revenues from transactions with franchisees(2) 26 2 36 139 — 203    Other revenues 8 12 308 31 (294) 65 Add:    General and administrative expenses 121 54 20 78 — 273    Franchise expenses 17 2 — — — 19    Expenses for transactions with franchisees(2) 23 2 33 138 — 196    Other operating costs and expenses 6 11 304 30 (293) 58    Closures and impairment expenses, net 7 5 2 — — 14    Other expenses (income), net — — — (1) — (1) Restaurant profit (loss) $            742 $            143 $                     (2) $                     — $                    1 $            884 Company sales 4,176 1,117 29 — — 5,322 Restaurant margin % 17.8 % 12.8 % (11.1) % N/A N/A 16.6 % Reconciliation of GAAP Operating Profit to Core Operating Profit Year to Date Ended 6/30/2024 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            636 $              87 $                     (8) $                   (75) $                  — $            640 Special Items, Operating Profit  — — — — — — Adjusted Operating Profit (Loss) $            636 $              87 $                     (8) $                   (75) $                  — $            640 F/X impact 29 4 — (2) — 31 Core Operating Profit (Loss) $            665 $              91 $                     (8) $                   (77) $                  — $            671 Year to Date Ended 6/30/2023 KFC Pizza Hut All Other Segments CorporateandUnallocated(1) Elimination Total Company sales $         4,120 $         1,137 $                     32 $                     — $                  — $         5,289 Franchise fees and income 32 4 10 — — 46 Revenues from transactions with franchisees(2) 21 2 36 123 — 182 Other revenues 9 8 306 20 (289) 54 Total revenues $         4,182 $         1,151 $                   384 $                   143 $              (289) $         5,571 Company restaurant expenses 3,301 986 36 — (1) 4,322 General and administrative expenses 135 59 21 101 — 316 Franchise expenses 16 2 1 — — 19 Expenses for transactions with franchisees(2) 18 2 33 122 — 175 Other operating costs and expenses 8 7 303 18 (288) 48 Closures and impairment expenses, net 9 5 3 — — 17 Other expenses (income), net 2 — — (1) — 1 Total costs and expenses, net 3,489 1,061 397 240 (289) 4,898 Operating Profit (Loss) $            693 $              90 $                   (13) $                   (97) $                  — $            673 Reconciliation of GAAP Operating Profit to Restaurant Profit Year to Date Ended 6/30/2023 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            693 $              90 $                   (13) $                   (97) $                  — $            673 Less:    Franchise fees and income 32 4 10 — — 46    Revenues from transactions with franchisees(2) 21 2 36 123 — 182    Other revenues 9 8 306 20 (289) 54 Add:    General and administrative expenses 135 59 21 101 — 316    Franchise expenses 16 2 1 — — 19    Expenses for transactions with franchisees(2) 18 2 33 122 — 175    Other operating costs and expenses 8 7 303 18 (288) 48    Closures and impairment expenses, net 9 5 3 — — 17    Other expenses (income), net 2 — — (1) — 1 Restaurant profit (loss) $            819 $            151 $                     (4) $                     — $                    1 $            967 Company sales 4,120 1,137 32 — — 5,289 Restaurant margin % 19.9 % 13.3 % (15.1) % N/A N/A 18.3 % Reconciliation of GAAP Operating Profit to Core Operating Profit Year to Date Ended 6/30/2023 KFC Pizza Hut All OtherSegments CorporateandUnallocated(1) Elimination Total GAAP Operating Profit (Loss) $            693 $              90 $                   (13) $                   (97) $                  — $            673 Special Items, Operating Profit  — — — 5 — 5 Adjusted Operating Profit (Loss) $            693 $              90 $                   (13) $                   (92) $                  — $            678 Items Affecting Comparability    Temporary relief from landlords (9) (1) — — — (10)    Temporary relief from government agencies (3) — — — — (3)    VAT deductions (24) (3) (1) — — (28)    Amortization of reacquired franchise rights 2 — — — — 2 F/X impact — — — — — — Core Operating Profit (Loss) $            659 $              86 $                   (14) $                   (92) $                  — $            639 The above tables reconcile segment information, which is based on management responsibility, with our Condensed ConsolidatedStatements of Income.   (1) Amounts have not been allocated to any segment for purpose of making operating decision or assessing financial performance as thetransactions are deemed corporate revenues and expenses in nature. (2) Primarily includes revenues and associated expenses of transactions with franchisees derived from the Company's central procurementmodel whereby the Company centrally purchases substantially all food and paper products from suppliers and then sells and deliversto KFC and Pizza Hut restaurants, including franchisees.  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 394 加入收藏 :
Cloud Music Inc. to Report First Half 2024 Financial Results on August 22, 2024

HANGZHOU, China, Aug. 5, 2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899 or the "Company"), a leading interactive music streaming service provider in China, today announced that it will report its financial results for the first half of 2024 ended June 30, 2024 on Thursday, August 22, 2024, after the Hong Kong market closes. The Company's management will host an earnings conference call at 7:00 p.m. Beijing/Hong Kong Time on Thursday, August 22, 2024 (7:00 a.m. U.S. Eastern Time on the same day). Details for the conference call are as follows: Event Title: Cloud Music Inc. First Half 2024 Earnings Conference CallRegistration Link: https://s1.c-conf.com/diamondpass/10040870-8sjfhy.html All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers, an event passcode, and a personal access PIN, which will be used to join the conference call. A replay of the call will be accessible by phone at the following numbers and entering PIN: 10040870. The replay will be available through August 29, 2024. Chinese Mainland: 400-120-9216 Hong Kong: 800-930-639 United States: 1-855-883-1031 Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.music.163.com. About Cloud Music Inc. Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Music Inc. (HKEX: 9899) is a well-known online music platform featuring a vibrant content community. Dedicated to providing an elevated user experience, Cloud Music Inc. provides precise, personalised recommendations, promotes user interaction and creates a strong social community. Its focus on discovering and promoting emerging musicians has made Cloud Music Inc. a destination of choice for exploring new and independent music among music enthusiasts in China. The platform has been recognised as the most popular entertainment app among China's vibrant Generation Z community. Please see http://ir.music.163.com/ for more information. Investor Enquiries: Angela XuCloud Music Inc.music.ir@service.netease.com  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 186 加入收藏 :
Youdao to Report Second Quarter 2024 Financial Results on August 22

HANGZHOU, China, Aug. 5, 2024 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an intelligent learning company with industry-leading technology in China, today announced that it will report its second quarter 2024 financial results on Thursday, August 22, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 6:00 a.m. Eastern Time on Thursday, August 22, 2024 (Beijing/Hong Kong Time: 6:00 p.m., Thursday, August 22, 2024). Youdao's management will be on the call to discuss the quarterly results and answer questions. Dial-in details for the earnings conference call are as follows: United States (toll free): +1-888-346-8982 International: +1-412-902-4272 Mainland China (toll free): 400-120-1203 Hong Kong (toll free):      800-905-945 Hong Kong: +852-3018-4992 Conference ID: 8395069 A live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.youdao.com. A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until August 29, 2024: United States:                +1-877-344-7529 International: +1-412-317-0088 Replay Access Code:       8395069 About Youdao, Inc.  Youdao, Inc. (NYSE: DAO) is an intelligent learning company with industry-leading technology in China dedicated to developing and using technologies to provide learning content, applications and solutions to users of all ages. Building on the popularity of its online knowledge tools such as Youdao Dictionary and Youdao Translation, Youdao now offers smart devices, STEAM courses, adult and vocational courses, and education digitalization solutions. In addition, Youdao has developed a variety of interactive learning apps. Youdao was founded in 2006 as part of NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), a leading internet technology company in China. For more information, please visit: http://ir.youdao.com. For investor and media inquiries, please contact: In China: Jeffrey WangYoudao, Inc.Tel: +86-10-8255-8163 ext. 89980E-mail: IR@rd.netease.com  Piacente Financial CommunicationsHelen WuTel: +86-10-6508-0677E-mail: youdao@thepiacentegroup.com  In the United States: Piacente Financial Communications Brandi PiacenteTel: +1-212-481-2050E-mail: youdao@thepiacentegroup.com

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 384 加入收藏 :
NetEase to Report Second Quarter 2024 Financial Results on August 22

HANGZHOU, China, Aug. 5, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced that it will report financial results for the 2024 second quarter on Thursday, August 22, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 8:00 a.m. Eastern Time on Thursday, August 22, 2024 (Beijing/Hong Kong Time: 8:00 p.m., Thursday, August 22, 2024). NetEase's management will be on the call to discuss the quarterly results and answer questions. Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10040836, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10040836. The replay will be available through August 29, 2024. This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase's Investor Relations website at http://ir.netease.com/. About NetEase, Inc. NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase") is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally. Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world. Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase's private label consumer lifestyle brand. For more information, please visit: http://ir.netease.com/. Contact for Media and Investors: Investor RelationsEmail: ir@service.netease.comTel: (+86) 571-8985-3378

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 390 加入收藏 :
Gaotu Techedu to Report Second Quarter 2024 Financial Results on August 27, 2024

BEIJING, Aug. 5, 2024 /PRNewswire/ -- Gaotu Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU), a technology-driven education company and online large-class tutoring service provider in China, today announced that it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on Tuesday, August 27, 2024. Gaotu's management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on Tuesday, August 27, 2024 (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows: International: +1-412-317-6061 United States: +1-888-317-6003 Hong Kong: 800-963-976 Mainland China: 400-120-6115 Passcode: 5380431 A telephone replay will be available two hours after the conclusion of the conference call through September 2, 2024. The dial-in details are as follows: International: +1-412-317-0088 United States: +1-877-344-7529 Passcode: 6770960 Additionally, a live and archived webcast of this conference call will be available at https://ir.gaotu.cn/home. About Gaotu Techedu Inc.    Gaotu is a technology-driven education company and online large-class tutoring service provider in China. The Company offers learning services and educational contents & digitalized learning products. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates every aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency. For further information, please contact: Gaotu Techedu Inc.Investor RelationsE-mail: ir@gaotu.cn Christensen In ChinaMs. Vivian WangPhone: +852 2232 3978E-mail: gotu@christensencomms.com In the USMs. Linda BergkampPhone: +1-480-614-3004E-mail: linda.bergkamp@christensencomms.com  

文章來源 : PR Newswire 美通社 發表時間 : 瀏覽次數 : 247 加入收藏 :
2024 年 12 月 5 日 (星期四) 農曆十一月初五日
首 頁 我的收藏 搜 尋 新聞發佈